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(Close): The Dow Jones index closed at a record high on Wednesday after Fed chairwoman, Janet Yellen, promised interest rates would remain unchanged for "a considerable time".

The Dow Jones index rose 24.88 points, or 0.15% to close at 17,156.85.

Following the US central bank's regular policy committee meeting Ms Yellen confirmed the stimulus programme, or quantitative easing, was ending.

Investors were relieved that there was no hint interest rates would rise soon.

The dollar rose against the euro and the yen after the statement.

The dollar is at 0.7773 euros and 108.32 yen.

Figures published on Wednesday showed U.S. consumer prices fell for the first time for over a year in August, giving the Fed more ammunition in its argument to keep rates low.

The biggest gainer on the broader market was US Steel, whose shares shot up over 10% after it announced it was shelving costly expansion plans and said its third quarter results were set to be "significantly" above analysts' estimates.

Shares in FedEx rose 3.27% after the delivery firm reported a 24% rise in quarterly profits, beating expectations.